The US dollar (USD) will probably consolidate in a range of 144.00/145.15 against Japanese Yen (JPY). In the long term, the increase in impulse is not enough to indicate a advance sustained at the moment; The USD must first break and stay above 145.50, indicate the FX analysts of UOB Group, to be Leang and Peter Chia.
The increase in impulse is not enough to indicate sustained advance
24 -hour vision: “The USD was traded irregularly last Thursday. On Friday, we highlight that ‘despite the irregular prices action, there has been a slight increase in the bullish impulse.’ ‘ We also point out that ‘instead of a sustained increase, the USD is more likely to be negotiated in a higher range of 142.95/144.40.’ We did not expect the USD to break over 144.40 and shoot at 145.08.
Vision at 1-3 weeks: “In our most recent narrative last Wednesday (June 4, price in 143.85), we affirm that ‘the recent price action suggests that the USD is still negotiating in a range, most likely between 142.10 and 145.50.’ Last Friday, the USD shot at a maximum of 145.08 before closing in a strong note in 144.85 (+0.93%). 145.50 It will remain intact, provided that the level of ‘strong support’, currently in 143.00, is not violated. “
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
